NAB cuts home loan rate

Updated on 21 May 2025
20 May 2025 
Interest Rates

NAB today announced it will decrease its standard variable home loan interest rate by 0.25% p.a., effective from Friday 30 May 2025, following the Reserve Bank of Australia’s decision to reduce the official cash rate.

NAB Group Executive for Personal Banking, Ana Marinkovic, said: “We’re pleased to announce that the variable rate on NAB home loans is decreasing. This provides some relief for those customers still dealing with cost of living challenges.”

NAB does not automatically reduce repayments which gives customers the choice of paying down their home loan sooner. Customers who would like to reduce their repayments to their new minimum can request changes in the NAB app.

“More than 95% of NAB customers opted to keep their repayments at the same level when rates last decreased, choosing to pay down their home loan quicker and save more in the long term,” Ms Marinkovic said.

A customer with a 30-year mortgage of $550,000 would save $83,000 in interest over the life of the loan and pay it off two years earlier if they kept repayments the same following a 0.25% reduction in rates.

Notes:

• Since 2017, NAB has consistently implemented changes (if any) to its standard variable home loan rates 10 days following a cash rate announcement from the RBA. This is NAB’s approach regardless of whether rates are increasing or decreasing
• Customers can visit nab.com.au to calculate how much they could save on their home loan following this interest rate reduction.